Andrew Yang says the next startup wave isn’t building AI. It’s lowering the cost of living.
TL;DR
Yang says AI will compress wages and the opportunity is startups that lower living costs. Noble Mobile gives money back. Investors only want AI companies.
Andrew Yang thinks the biggest startup opportunity of the next decade is not building AI. It is lowering the cost of living for the people AI is about to displace. In a TechCrunch interview, the former presidential candidate and UBI advocate laid out a thesis: as AI compresses wages and eliminates entry-level jobs, the market opportunity shifts to companies that make basic needs cheaper.
“AI is going to suck up a lot of the value and the jobs, and then Americans are going to look up and say, ‘How do I meet basic needs?‘” Yang said. He sees “a very rich vein of opportunity” in startups that bring down costs in housing, education, food, fuel, transportation, media, and wireless.
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